OREANDA-NEWS A strong ruble can reduce the amount of revenues to the Russian budget, said the director of the Higher School of Finance of the REU. Plekhanov Konstantin Ordov in a conversation with ABN. This is possible against the backdrop of declining price dynamics for the main Russian exports, he explained.

Reserve funds are indeed used to support the economy, and revenues are directed to current needs. In this case, the strengthening of the Russian currency leads to the fact that there are fewer rubles, a smaller amount of funds goes to the country's budget, Ordov said.

The advantage of a weak ruble is the proceeds from the sale of export goods in rubles, due to which the amount of expenditure allowed for the state will increase, he added.

Earlier, Vedomosti reported that the Central Bank was secretly buying foreign currency to keep the ruble from an uncontrolled appreciation in the short term. According to the publication, the regulator acquires exclusively foreign exchange earnings from exporters and does this not independently, but with the help of other participants in the financial market.

The Central Bank said that the information is not true. At the same time, the Bank of Russia did not specify any details. At the same time, together with the Ministry of Finance, the regulator prepared proposals to reduce the requirement for the mandatory sale of exporters' foreign exchange earnings from 80% to 50%. A decision on this could be made by the end of the week.